The coronavirus pandemic has hit Luminovo in a ambivalent situation: On the one hand, the Munich-based startup was able to close a financing round shortly before the outbreak. On the other hand, the company is undergoing a profound transformation process. Co-founder Sebastian Schaal reports in the #CoronaUpdate how Luminovo has experienced the coronavirus crisis so far and how his startup is trying to see the current situation as an opportunity.
Founded in 2017 by Timon Ruban and Sebastian Schaal, Luminovo supports its customers in the use of artificial intelligence. The startup recently shifted its focus to the electronics industry. Its goal is to become the world's leading operating system for electronics development. In the #CoronaUpdate, the co-founder explains Sebastian Schaal about his startup:
“At Luminovo, we are committed to bringing technological innovations to market earlier and faster because we believe it is necessary to solve the biggest problems of our time.”
Shortly before the crisis began, the startup was able to Pre-seed financing round 2 million euros Nevertheless, the Corona crisis hit the Munich startup at a rather unfavorable time in its development:
"We at Luminovo are currently in the process of transforming from an AI engineering firm, which we have been working with for the past two years, to a product company with a focus on electronics."
Luminovo relies on virtual team events
The project business in particular was hit hard by the crisis. However, as Schaal reports from his home office, his company quickly adapted to the changed situation — including virtual team events like pub quizzes.
The company wants to use the time of the crisis to develop products and then get started as soon as industrial customers are ready.
In the #CoronaUpdate, Sebastian Schaal reports on how the Corona crisis has affected Luminovo and what opportunities he currently sees for his company:
